NASDAQ and Bitcoin continue to move in parallel within a macro downtrend.
Personally, for the NASDAQ I am patiently waiting for some sign of a bounce on the weekly chart to re-enter medium-term positions.
For Bitcoin, we have reached a critical support level in the 17-20K zone so it is a good risk-reward zone for trades with low or no leverage. For a long term analysis please check last week newsletter In this edition I am going to focus on choosing 3 stocks and 3 altcoins that have caught my attention on the daily chart. $ADA
Sideways action consolidating above previous cycle ATH. 0.40 USD is the critical level for both longs and shorts.
Money flow is increasing on this one while we are on it's historically highest volume zone. 25-28 USD would be a greate risk-reward buy zone. If it closes below be ready to short.
$MATIC This one seems on it's way down as money flow turned negative and it just printed a lower low. Will be looking for short opportunitites and revaluateif we approach the 0.52USD.
Reached a critical level. Will be watching this one very closely, there is a bounce signal active but if it fails then be ready to short this one (next support zone 87usd)
$AMD This one seems to be fourming a double bottom pattern at a critical support zone . 70-75 USD area seems very attractive for a quick bounce, I will set orders at 72 and 70 with stop loss at 68usd.. Failing to hold will create short opportunities.
It reached its highest volume traded zone while money flow is increasing. Will be accumulating here and revaluate if it goes below 130usd.